Itochu (OTCMKTS:ITOCY) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Itochu Corp. (OTCMKTS:ITOCY) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.63 and traded as low as $12.00. Itochu shares last traded at $12.19, with a volume of 1,096,406 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ITOCY shares. Nomura upgraded shares of Itochu to a “strong-buy” rating in a research report on Wednesday, February 25th. Daiwa Securities Group upgraded shares of Itochu to a “strong-buy” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

Itochu Stock Down 0.2%

The stock has a market capitalization of $96.60 billion, a price-to-earnings ratio of 13.70 and a beta of 0.65. The business’s 50-day moving average is $12.63 and its two-hundred day moving average is $45.90. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $24.49 billion for the quarter, compared to analyst estimates of $28.52 billion. Equities analysts anticipate that Itochu Corp. will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Itochu

A number of institutional investors have recently bought and sold shares of ITOCY. Aristotle Capital Management LLC raised its stake in Itochu by 897.0% during the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after purchasing an additional 105,505 shares during the period. OLD National Bancorp IN raised its stake in Itochu by 898.1% during the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock worth $193,000 after purchasing an additional 13,993 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Itochu during the fourth quarter worth about $279,000. GAMMA Investing LLC raised its stake in Itochu by 21.8% during the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after purchasing an additional 516 shares during the period. Finally, Confluence Investment Management LLC raised its stake in Itochu by 4.8% during the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after purchasing an additional 446 shares during the period. 0.08% of the stock is owned by hedge funds and other institutional investors.

About Itochu

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.